3i Group to invest £60m in A-Z Gartenhaus.

Investment company 3i Group agreed to invest £60m ($77m) in A-Z Gartenhaus, which offers garden houses, sheds, carports, terraces, saunas and other, often bulky, garden and home related products. "For us, GartenHaus is a highly attractive investment opportunity. It is a niche market player with strong digital capabilities which is benefitting from the shift to online. We see GartenHaus as a nucleus to establish the online champion for home and garden projects across Europe. The key focus is to expand the product range into adjacent categories, as well as to internationalise the business by expanding into neighbouring countries such as the UK, France, Scandinavia and the Netherlands which have fragmented markets and similar product trends," Peter Wirtz, 3i Partner.